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* Futures up: Dow 0.92%, S&P 0.80%, Nasdaq 0.78%
By Medha Singh and Devik Jain
June 19 (Reuters) - U.S. stock index futures rose about 1%
on Friday as investors wagered on a bounce back in post-pandemic
economic activity, shrugging off the daily increase in new
coronavirus infections in several states.
Oil major Exxon Mobil Corp XOM.N rose 1.7% in premarket
trading and Chevron Corp CVX.N gained 0.4% as Brent crude
LCOc1 rose above $42 a barrel amid signs of gradual recovery
in demand and oil producers' promise to meet supply cuts. O/R
California, Florida and North Carolina urged mandatory mask
use on Thursday as at least six states set daily records for new
coronavirus cases. Mainland China also reported 32 new cases of
infections, an uptick from a day earlier. Risk of a resurgence of the virus outbreak has led to choppy
trading sessions this week, but the three main stock indexes are
set to wrap up the week higher after a strong retail sales
report for May and signs of additional official stimulus.
The S&P 500 .SPX ended marginally higher on Thursday with
the tech-heavy Nasdaq .IXIC notching its sixteenth rise in the
past 19 sessions.
The benchmark S&P 500 and the blue-chip Dow .DJI are now
about 8% and 12% below their respective record closing highs hit
in February, while the Nasdaq is about 0.5% below its all-time
closing high on June 10.
Markets are likely to become more volatile during Friday's
session on account of "quadruple witching," as investors unwind
interests in futures and options contracts prior to expiration.
At 6:29 a.m. ET, Dow e-minis 1YMcv1 were up 240 points, or
0.92%. S&P 500 e-minis EScv1 were up 24.75 points, or 0.80%
and Nasdaq 100 e-minis NQcv1 were up 78.25 points, or 0.78%.
AMC Entertainment Holdings Inc AMC.N jumped 7.6% on plans
to reopen theaters at about 450 locations in the United States
next month and the company expects returning to full-seating
capacity around Thanksgiving. Later in the day, U.S. Federal Reserve Chair Jerome Powell
will participate in a video conference where he will talk about
ways regions and cities across the country can help their
workforces better withstand and recover from shocks related to
the pandemic.